Hackers and scammers are persistent in targeting crypto and NFT traders with various techniques.
Scam Trick Targeting NFT And Crypto Traders
On February 8, Kanye West revealed how an anonymous user offered him $2 million to promote a cryptocurrency scam on X (formerly Twitter). He was asked to post a fraudulent ad and then claim his account was hacked. The total offer included an upfront payment of $750,000 for the initial post and $1.25 million 16 hours later. The scheme could have deceived West's audience out of tens of millions of dollars.
How To Avoid Celebrity-backed Crypto Scams
To avoid such scams, it is advised to thoroughly research the seller, NFT, and crypto products, especially those promoted by celebrities. It is also important to use secure wallets and reputable NFT marketplaces to protect your devices from malicious sites and links.
The Kanye West case underscores the need for caution when dealing with promotional content and information from public figures.
